North America Youth ATV & UTV Market to Witness Widespread Expansion By 2024
UTV segment of North America youth ATV & UTV market is projected to register a CAGR of 6% over 2018-2024. The ATV segment on other hand is expected to grow at a rate of 3.5% over the forecast period, primarily on the cusp of the increasing number of sports events and Championships attracting the participation of youth. For the record, the trail sports activities accounted for a significant 13% of outdoor recreational spending, in turn expanding the market demand throughout North America.
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Recognized as a highly lucrative vertical of the overall automotive & transportation cosmos, North America youth ATV & UTV market has been gaining quite a momentum in the recent years. The remarkable surge in expenditures pertaining to recreational and tourism activities, exploration trips, and campaigning have undoubtedly paved the way for renewed sense of dynamism in the North America youth ATV & UTV industry share. Given the tremendous surge in demand for recreational sports, prominent contenders as well as the regional governments have been going the whole hog to bring forth innovative vehicles, while boosting the statewide tourism.
The recent news of Monroe approving the ATVs on the city streets is an apt substantiation to the aforesaid. Elaborating further, reports reveal that in a bid to boost tourism in rural areas and expand recreational activities, the government of Monroe City in the U.S. state of Missouri, has voted in the favor of allowing ATVs on the city streets, with some rules. The move is expected to significantly influence the estimated 25,000 ATV owners in Washington, while propelling the North America youth ATV & UTV market share.
Having a vast geographical expanse of around 430 wilderness areas, over 150,000 miles of trails, and large farms, ranches, and unpaved roads, the U.S. has emerged as a lucrative investment hub for North America youth ATV & UTV market expansion. Reports claim that the profound surge in recreational activities and the presence of major industry players bringing forth technologically advanced vehicles will be the key factors driving the regional share. Accounting for a revenue share of USD 220 million in 2017, estimates claim the U.S. youth ATV & UTV market to be a dominant player with a volume share of over 90% by 2024.
Quite overtly, the significant geographical benefits in conjunction with the rising popularity of motor sports & recreational activities are slated to robustly fuel the ATVs & UTVs product demand across North America. And furthermore, with the growing product popularity, the extensive efforts of industry contenders & regional governments to expand the scope of these activities are all set to carve a profitable roadmap for North America youth ATV & UTV market in the years ahead.
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Partial Chapter of the Table of Content
Chapter 4. North America Youth ATV & UTV Market, By Product
4.1. Market share by product, 2017 & 2024
4.1.1. ATV
4.1.1.1. Market estimates and forecast, 2013-2024
4.1.1.2. Market estimates and forecast, by region, 2013-2024
4.1.2. SSV/UTV
4.1.2.1. Market estimates and forecast, 2013-2024
4.1.2.2. Market estimates and forecast, by region, 2013-2024
Chapter 5. North America Youth ATV & UTV Market, By Fuel
5.1. Market share by fuel, 2017 & 2024
5.2. Gasoline
5.2.1. Market estimates and forecast, 2013 - 2024
5.2.2. Market estimates and forecast, by region, 2013–2024
5.3. Electric
5.3.1. Market estimates and forecast, 2013 - 2024
5.3.2. Market estimates and forecast, by region, 2013–2024
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